Minister of Economy Luis Caputo posted on his X account that mining sector exports reached a new historical record in the first half of 2026. According to the information, attributed to the Mining Secretariat, total exports between January and June amounted to USD 4.742 billion.
Comparison with previous periods
The figure represents a 74.4% increase compared to the first half of 2025. It also exceeds the average of the first halves of the 2010-2025 period by 154.7%. The source does not detail the absolute value of that average or the year-by-year data, but the comparison places the first half of 2026 as the highest historical level.
Performance by product
Lithium was the main driver, with a 185% increase in exports compared to the first half of 2025. Metal ores as a whole grew 58%, with gold rising 51.2% and silver increasing 87.9%. Other exports in the sector, including non-metallic minerals, showed a 3.9% increase.
The source does not break down the dollar amounts for each product or specify whether the increases are due to higher volumes, higher prices, or a combination of both. It also does not report whether there were changes in the composition of the export basket compared to previous years.
Export destinations
China was the fastest-growing market, with a 205% increase in Argentine mining sales. It was followed by South Korea (+196%), Canada (+95%), and the United States (+90%). The source does not provide absolute amounts by destination or the percentage share of each country in total exports. It also does not mention other relevant destinations or whether new markets were opened.
Official document and scope of data
The information was disseminated by the Ministry of Economy through Minister Caputo’s personal X account. No official press release was published on the ministry’s website or that of the Mining Secretariat. The secondary source (La Derecha Diario) attributes the data to the Mining Secretariat, but the original document could not be accessed to verify the calculation methodology, the coverage of products included, or possible seasonal adjustments.
| Document / Source | What it states | What it does not state | Open questions |
|---|---|---|---|
| Luis Caputo’s X post (referred primary source) | Mining exports first half 2026: USD 4.742 billion. Year-on-year growth 74.4%. Growth vs. 2010-2025 average: 154.7%. Lithium +185%, metal ores +58%, gold +51.2%, silver +87.9%, others +3.9%. Destinations: China +205%, South Korea +196%, Canada +95%, USA +90%. | Does not break down amounts by product or destination. Does not specify whether increases are in volume, price, or both. Does not detail the calculation methodology for the 2010-2025 average. Does not include data on mining services exports or royalties. | What are the absolute values of lithium, gold, and silver exports? What proportion of the total does each product represent? What are the physical volumes exported? How was the 2010-2025 average calculated? Does it include all minerals or only some? |
| La Derecha Diario article (secondary source) | Reproduces data from Caputo’s post. Attributes information to the Mining Secretariat. Adds that the record is due to reforms of Javier Milei’s government. | Does not provide new data or independent verification. Does not cross-check with other sources or offer additional context on the mentioned reforms. | Are the mentioned reforms the same as those cited by the government? Are there other external factors (international prices, global demand) explaining the growth? |
Value module: calculation of year-on-year increase
To verify the 74.4% increase between the first half of 2025 and 2026, the following calculation can be performed, assuming the official data is correct:
- Document: Luis Caputo’s X post (referred primary source).
- Agency and date: Ministry of Economy, July 2026.
- Unit: US dollars.
- Values used: Exports first half 2026 = USD 4.742 billion. Declared increase = 74.4%.
- Operation: To obtain the value for the first half of 2025: 4.742 / (1 + 0.744) ≈ 2.719 billion. Difference: 4.742 – 2.719 = 2.023 billion. Percentage increase: (2.023 / 2.719) * 100 ≈ 74.4%.
The calculation is consistent with the stated figure. However, without the officially published 2025 base data, it is not possible to independently confirm the exact amount. The source does not specify whether the values are nominal or inflation-adjusted, nor the exchange rate used (since exports are invoiced in foreign currency, no conversion is needed).
What to follow up on
To track the sector’s evolution, it would be useful to have the official publication from the Mining Secretariat with monthly export details by product and destination, as well as INDEC’s foreign trade bulletins. It would also be relevant to know the impact of international prices for lithium and precious metals on revenues, and whether growth continues in the second half. The comparison with the historical average should be accompanied by the full series to assess the magnitude of the record.
Fuentes consultadas
- La Derecha Diario
- Argentina.gob.ar Fuente primaria
El Sereno contrastó las fuentes enlazadas y añadió contexto, comparación o análisis documental. Las fuentes primarias están identificadas. La nota no se presenta como investigación de campo ni como entrevista propia, salvo indicación expresa.
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